Yu Darvish: 5 p.m. ET Deadline Set for Texas Rangers and Free-Agent Pitcher

The Texas Rangers' quest for Japanese ace Yu Darvish could come to a halt by 5 p.m. ET Wednesday if the pitcher doesn't agree to a contract. 

According to ESPN, the Rangers spent $51.7 million to negotiate with Darvish, and if there is no news by 5 p.m., then they get the money back. 

The good news, according to Jon Heyman of CBSSports.com, is that a deal is all but assured:

Furthermore, Heyman has the inside scoop on the length of the contract Darvish and the Rangers are working towards:

Since C.J. Wilson departed to the Los Angles Angeles, the Rangers have been actively pursing Darvish because their need for a strong pitcher sky rocketed. 

It was well known that the Rangers had a phenomenal team last season, reaching the World Series for the second straight year. Their strong suit was their hitting, as they finished first in the MLB in batting average, second in slugging percentage and third in runs scored.

Pitching, on the other hand, wasn't horrible by any means, but it wasn't fantastic either, ranking 13th in the league.  

This deadline is crucial for the Rangers because they're perhaps the team that needs Darvish the most. It's unknown whether or not he'll be a star in the MLB, but in five seasons with the  Hokkaido Nippon-Ham Fighters, Darvish put up good numbers. 

He has a career ERA of 1.72 and a .731 win percentage, which is outstanding.

There have been a number of Japanese pitchers that receive big praises before ever playing in the MLB, only to come to the states and fizzle out. Kei Igawa, Hideki Irabu and Daisuke Matsuzaka are a few that come to mind. 

Texas sure hopes Darvish is the real deal, especially since it plans to shell out a ton of money to land the 25-year-old pitcher. 

There's plenty of time today for Darvish to think things through, so stay tuned with Bleacher Report and we will update you if he takes action on the contract.